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            <li class="nav-item" data-bs-level="1"><a href="#_1" class="nav-link">高股息低估值成长策略</a>
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            <li class="nav-item" data-bs-level="2"><a href="#1" class="nav-link">1. 策略分类和核心逻辑</a>
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            <li class="nav-item" data-bs-level="2"><a href="#2" class="nav-link">2. 选股条件</a>
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            <li class="nav-item" data-bs-level="2"><a href="#3" class="nav-link">3. 买入条件</a>
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            <li class="nav-item" data-bs-level="2"><a href="#4" class="nav-link">4. 卖出条件</a>
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            <li class="nav-item" data-bs-level="2"><a href="#5" class="nav-link">5. 仓位管理</a>
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            <li class="nav-item" data-bs-level="2"><a href="#6" class="nav-link">6. 风控管理</a>
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            <li class="nav-item" data-bs-level="2"><a href="#7" class="nav-link">7. 手动实操步骤（纯人工交易版）</a>
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<h1 id="_1">高股息低估值成长策略</h1>
<h2 id="1">1. 策略分类和核心逻辑</h2>
<ul>
<li>一级分类：价值投资策略</li>
<li>二级分类：高股息低估值成长策略</li>
<li>核心逻辑：通过筛选高股息率、低估值且具备成长性的优质股票，在获取稳定股息收益的同时享受企业成长带来的资本增值，实现稳健的长期投资回报。</li>
</ul>
<h2 id="2">2. 选股条件</h2>
<ul>
<li>选股范围：全市场A股（排除科创板、北交所、ST股、上市未满300天新股）</li>
<li>股息率筛选：</li>
<li>计算最近3年平均分红股息率</li>
<li>选择股息率排名前10%的股票</li>
<li>基本面筛选：</li>
<li>估值水平：市盈率(PE)在0-25之间</li>
<li>盈利能力：净资产收益率(ROE) &gt; 3%</li>
<li>成长能力：营业收入同比增长率 &gt; 5%</li>
<li>盈利增长：净利润同比增长率 &gt; 11%</li>
<li>成长估值：PEG在0.08-1.9之间</li>
<li>技术面筛选：</li>
<li>排除停牌股票</li>
<li>排除昨日涨停股票</li>
</ul>
<h2 id="3">3. 买入条件</h2>
<ul>
<li>调仓频率：每月调仓一次</li>
<li>买入时点：调仓日上午9:30执行</li>
<li>买入规则：</li>
<li>先卖出不再符合条件的持仓</li>
<li>再买入新入选的前10只股票</li>
<li>数量限制：固定持有10只股票</li>
<li>排序标准：按股息率从高到低排序</li>
</ul>
<h2 id="4">4. 卖出条件</h2>
<ul>
<li>定期调仓：每月评估，不在选股池中即卖出</li>
<li>涨停跟踪：昨日涨停的持仓股，今日涨停打开立即卖出</li>
<li>卖出时点：下午14:00执行涨停股检查</li>
<li>执行原则：不在买入名单中的持仓股，且未涨停时卖出</li>
</ul>
<h2 id="5">5. 仓位管理</h2>
<ul>
<li>持仓数量：固定持有10只股票</li>
<li>资金分配：等分可用资金到每只新买入股票</li>
<li>总仓位：100%满仓运作</li>
<li>权重分配：等权重配置</li>
</ul>
<h2 id="6">6. 风控管理</h2>
<ul>
<li>估值风控：严格的市盈率上限控制估值风险</li>
<li>质量风控：通过财务指标筛选确保标的质量</li>
<li>流动性风控：排除涨停股避免追高风险</li>
<li>分散风控：10只股票持仓实现行业分散</li>
<li>纪律风控：月度轮动避免过度交易</li>
</ul>
<h2 id="7">7. 手动实操步骤（纯人工交易版）</h2>
<p>第一步：月度选股（每月第一个交易日9:30前）</p>
<ol>
<li>基础筛选：</li>
<li>排除科创板、北交所股票</li>
<li>排除ST、*ST及退市风险股票</li>
<li>
<p>排除上市未满300天的新股</p>
</li>
<li>
<p>股息率计算：</p>
</li>
<li>收集最近3年分红数据</li>
<li>计算每只股票的3年平均股息率</li>
<li>
<p>选择股息率排名前10%的股票</p>
</li>
<li>
<p>财务数据筛选：</p>
</li>
<li>筛选市盈率0-25之间的股票</li>
<li>筛选ROE&gt;3%、营收增长&gt;5%、净利润增长&gt;11%</li>
<li>
<p>计算PEG并筛选0.08-1.9之间的股票</p>
</li>
<li>
<p>技术面过滤：</p>
</li>
<li>排除停牌股票</li>
<li>排除昨日涨停股票</li>
<li>按股息率从高到低排序，选择前10只</li>
</ol>
<p>第二步：调仓准备（调仓日开盘前）</p>
<ol>
<li>持仓分析：</li>
<li>检查当前持仓情况</li>
<li>识别昨日涨停的持仓股</li>
<li>
<p>准备调仓对比名单</p>
</li>
<li>
<p>资金规划：</p>
</li>
<li>计算可用资金总额</li>
<li>确定每只新股的买入金额</li>
</ol>
<p>第三步：调仓执行（调仓日9:30）</p>
<ol>
<li>卖出操作：</li>
<li>卖出不在新选股池中的持仓</li>
<li>
<p>确保卖出时股票未涨停</p>
</li>
<li>
<p>买入操作：</p>
</li>
<li>等分资金买入10只新股</li>
<li>记录买入价格和基本信息</li>
</ol>
<p>第四步：盘中监控（每日14:00）</p>
<ol>
<li>涨停股跟踪：</li>
<li>监控昨日涨停持仓股的表现</li>
<li>涨停打开的股票立即卖出</li>
<li>记录卖出操作和原因</li>
</ol>
<p>第五步：持仓管理</p>
<ol>
<li>基本面监控：</li>
<li>定期检查持仓股财务指标</li>
<li>关注财报更新对持仓的影响</li>
<li>
<p>及时调整不符合条件的股票</p>
</li>
<li>
<p>市场监控：</p>
</li>
<li>关注市场风格变化</li>
<li>监控行业轮动情况</li>
<li>评估策略适应性</li>
</ol>
<p>第六步：纪律执行</p>
<ol>
<li>月度纪律：</li>
<li>严格按月度周期调仓</li>
<li>坚决执行卖出不再符合条件的股票</li>
<li>
<p>保持10只股票等权重配置</p>
</li>
<li>
<p>日常纪律：</p>
</li>
<li>严格执行涨停股卖出规则</li>
<li>及时处理特殊情况</li>
<li>保持策略一致性</li>
</ol>
<p>交易成本考虑：
- 买入佣金：0.03%
- 卖出佣金：0.03%
- 印花税：0.1%
- 最低佣金：5元/笔
- 滑点：0.02%</p>
<p>风险提示：该策略侧重价值投资，适合中长期稳健投资者。股息率受公司分红政策影响，可能存在变化。严格的财务指标筛选可能错过一些高成长但当前财务表现不佳的标的。月度调仓频率相对较低，需要耐心持有。</p></div>
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